Two Sigma Advisers LP Sells 25,802 Shares of Garrett Motion Inc. (NYSE:GTX)

Two Sigma Advisers LP decreased its stake in Garrett Motion Inc. (NYSE:GTX - Free Report) by 18.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,100 shares of the company's stock after selling 25,802 shares during the quarter. Two Sigma Advisers LP owned approximately 0.05% of Garrett Motion worth $1,012,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Arizona State Retirement System increased its position in Garrett Motion by 11.4% in the 4th quarter. Arizona State Retirement System now owns 25,362 shares of the company's stock worth $229,000 after purchasing an additional 2,586 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Garrett Motion by 5.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,919 shares of the company's stock valued at $653,000 after buying an additional 3,774 shares in the last quarter. HighTower Advisors LLC increased its holdings in Garrett Motion by 14.3% in the fourth quarter. HighTower Advisors LLC now owns 31,101 shares of the company's stock worth $281,000 after buying an additional 3,880 shares during the last quarter. Quarry LP raised its position in Garrett Motion by 180.3% during the fourth quarter. Quarry LP now owns 7,755 shares of the company's stock valued at $70,000 after acquiring an additional 4,988 shares in the last quarter. Finally, Mariner LLC lifted its stake in Garrett Motion by 35.6% in the fourth quarter. Mariner LLC now owns 19,434 shares of the company's stock valued at $175,000 after acquiring an additional 5,107 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company's stock.

Analysts Set New Price Targets

Separately, BWS Financial increased their price target on shares of Garrett Motion from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd.

Insider Activity at Garrett Motion

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 155,000 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $11.25, for a total value of $1,743,750.00. Following the sale, the insider now directly owns 25,151,724 shares in the company, valued at $282,956,895. This trade represents a 0.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $10.30, for a total transaction of $30,900,000.00. Following the completion of the sale, the insider now owns 8,906,010 shares in the company, valued at $91,731,903. This represents a 25.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,327,441 shares of company stock worth $52,484,041. 0.83% of the stock is owned by insiders.

Garrett Motion Stock Up 0.2%

Shares of GTX traded up $0.02 during mid-day trading on Thursday, hitting $10.15. 1,631,125 shares of the company's stock were exchanged, compared to its average volume of 1,189,501. The firm has a fifty day moving average of $9.94 and a two-hundred day moving average of $9.40. Garrett Motion Inc. has a twelve month low of $7.02 and a twelve month high of $12.09. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 7.99 and a beta of -0.05.

Garrett Motion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.24 dividend on an annualized basis and a yield of 2.36%. Garrett Motion's payout ratio is presently 18.60%.

About Garrett Motion

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.